ModeMax, developed on the Mode Network, aims to provide a platform for derivatives trading, offering spot and perpetual trades with up to 50x leverage on $MODE, $ETH, and $BTC. It includes an AI-powered trading panel designed to assist with trading strategies.^[1][2]

Overview

ModeMax is a decentralized derivatives trading platform on the Mode Network, offering spot and perpetual trades with up to 50x leverage on assets like $ETH, $BTC, and $MODE. Launched on August 6th, 2024, ModeMax employs the Pyth price feed oracle, supported by an on-chain price tracker, to maintain accurate pricing for trading and liquidations.

The platform uses a peer-to-pool mechanism, allowing users to trade against liquidity pools via smart contracts, without relying on traditional order books. ModeMax aims to enhance user control by reducing dependence on central authorities and plans to implement a governance model that encourages transparent user participation.^[1][2][3]

Services

Leveraged Trading

ModeMax provides products that allow traders to use up to 50x leverage on assets like BTC, ETH, and MODE. This feature supports long and short positions across a range of crypto assets with cross-margin collateral. It aims to offer flexible position management and risk strategies, enabling users to adapt their trading methods to changing market conditions.^[5][6]

Cross-Margin-Collateral

ModeMax implements a cross-margin collateral management system that facilitates the sharing of margin balances across multiple positions. This approach aims to enhance capital efficiency and flexibility, allowing traders to manage their portfolios in a more integrated manner compared to isolated-position models.^[5][6]

Multi Rewards Programs

ModeMax features several incentive programs, including rewards for traders, holding incentives, liquidity provider rewards, and a referral program. Additionally, it includes community campaigns and airdrop distributions to support user engagement.^[5][6]

APR% for LP

ModeMax offers liquidity providers (LPs) several opportunities for high annual percentage rates (APRs). LPs can receive 40% of platform fees, 50% of total supply token emissions, and liquidity-boosting rewards. Additionally, LPs can earn Multiplier Points at a 100% APR. These mechanisms are intended to support liquidity provision on the platform.^[5][6]

Insurance Funding

ModeMax utilizes an Insurance Fund to support liquidity in the Market Liquidity Pool (MLP) and to provide a consistent stream of MODE rewards for staked MOX. This fund aims to stabilize liquidity and reward participation.

Products

One-Click Trading

ModeMax provides a One-Click Trading feature that can be activated via the account menu. It aims to simplify trading by removing the need for wallet signing popups for each transaction. This feature ensures funds are returned to the wallet and limits the number of trades without re-authorization. It generates a local subaccount in the browser, which may pose a risk if the browser is compromised. Users can deactivate this feature through the settings menu.^[7]

Tokenomics

ModeMax Token ($MOX)

$MOX is the utility ERC-20 token of ModeMax, designed to facilitate governance participation, reward distribution, and value accrual from platform revenue.^[4]

Allocation

$MOX is allocated as follows:

• Liquidity Bootstrapping: 5%
• Liquidity Providers: 40%
• $MOX/esMOX Stakers: 20%
• Trader Incentives: 10%
• Community Airdrop: 2%
• Token Generation Event: 8%
• Contributors: 5%
• Ecosystem & Costs: 10%

The circulating supply of $MOX adjusts based on token vesting, partnerships, and trading incentives.^[4]

Utility

The $MOX token has the following utilities:

• Revenue Share: Entitles holders to 20% of protocol revenue in $MODE when staked.
• esMOX Emissions: Receives a portion of esMOX emissions when staked.
• Multiplier Points: Accumulates Multiplier Points at 100% APR when staked.
• Governance: Grants voting rights for protocol development decisions.^[4]

Points Program

The ModeMax Points Program allows users to earn points through various activities:

• Referrals: Points are awarded for inviting new users who complete specific actions.
• Adding Liquidity: Points are given based on liquidity added and held for 24 hours.
• Trading: Points are earned for each position opened or closed.
• Swapping: Points are awarded for each dollar transacted in swaps.
• Profits: Points are based on transaction profits.

$MOCHAD token holders receive double points during the testnet. A Points Program for the mainnet will be introduced upon launch.^[8]

Partnerships

ModeMax x NewmoneyAI

ModeMax has formed a partnership with NewmoneyAI to incorporate AI-driven financial features into its platform. This collaboration aims to facilitate cryptocurrency transactions through the AI chatbot Newton, accessible in messaging apps such as Telegram, Discord, and Viber.^[1]